Vodafone launches m-pesa mobile money transfer service with ICICI bank

Vodafone launches m-pesa mobile money transfer service with ICICI bank
Advertisement
Telecom major Vodafone India today said it has joined hands with ICICI Bank to launch a mobile money transfer and payment service.

"Vodafone India through its 100 percent subsidiary Mobile Commerce Solutions and ICICI Bank have finalised plans to launch mobile payment services this year, under the brand name 'm-pesa'. The offering will comprise a mobile money account with ICICI Bank and a Mobile Wallet issued by MCSL," the companies said in a joint statement.

The service will be launched initially in the eastern region - West Bengal, Bihar and Jharkhand, and then rolled out in elsewhere in phases.

"There is a tremendous potential for this product in India. This offering has been customised to serve the Indian customer in compliance with all applicable regulatory requirements," Vodafone India Managing Director and CEO Marten Pieters said.

The facility will offer cash deposit and withdrawal from designated outlets, money transfer to any mobile phone in the country, and mobile payment services including purchase of mobile recharge, recharge of DTH services and utility bill payments, money transfer to any bank account in the country and payments at select shops.

"This will help us reach out to segments that currently do not have access to banking services, towards our objective of achieving greater financial inclusion," ICICI Bank Managing Director and CEO Chanda Kochhar said.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Facebook COO Sheryl Sandberg sells another $3.75 million in stock
HP and Intel unveil new Itanium-based servers
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »